NJBIN Incubator News

Burlington County College High Technology and Life Science Incubators

www.bcc.edu/pages/131.asp

Illumination Machines is moving into light emitting diodes (LED) light bulb design and licensing in response to the ban of incandescent light bulbs that will become effective in the United States on January 1, 2012. The company has produced an optical solution to converting LED technology into omnidirectional light distribution required to replace the incandescent bulb. With 50 percent of lighting fixtures requiring an omnidirectional beam, this solution is crucial to integrating efficient LED technology into the lighting industry. Illumination Machines produces its own intellectual property related to LED lighting and has 23 patents pending.

The Business Development Incubator at New Jersey City University

http://web.njcu.edu/sites/profstudies/bdi/Content/default.asp

New Jersey City University has been awarded a U.S. Department of Housing and Urban Development (HUD) Hispanic-Serving Institutions Assisting Communities (HSIAC) grant, effective October 1, 2010, in the amount of $599,916. NJCU is among eleven Hispanic-serving institutions across the country that successfully applied for the highly-competitive grant. The federal funding will support the E2D (Enterprise and Economic Development) Initiative, which is a public-private partnership spearheaded by the Business Development Incubator in partnership with Rising Tide Capital, a 501(c)(3) nonprofit organization specializing in microenterprise development focused on distressed areas of Jersey City. The initiative will significantly enhance economic development activities in the community, particularly among low- and moderate-income entrepreneurs.

Dao Consulting Services recently announced that Helen Dao, its founder and CEO, has been elected president of the New Jersey Chapter of the Institute of Management Consultants. Dao is the first Hispanic American woman to head the state-wide association. DAO Management Consulting Services Inc. serves local, state, and national organization. Its expertise and focus is working with the Latino, Asian Chinese, and Caribbean non-Hispanic communities. The firm is recognized by the National Center for Cultural Competence at George Washington University Center for Child and Human Development, Washington, D.C. to provide consulting, technical assistance and cultural competency training for both nonprofit and for-profit industries.

Our Accounting Service LLC (OAS) was launched from BDI in September with seven employees to larger offices in Montvale, NJ. OAS eliminates the burden of bookkeeping and allows its clients the freedom to focus on their business, providing user-friendly, outsourced bookkeeping solutions to their clients, most of whom are small to medium not-for-profits. “I can't express enough how much we appreciate all the help and assistance BDI gave us over these past 3 years. From the accommodations to the seminars, we absolutely couldn't have done it without you and we will be forever grateful for all your help,” said OAS Principal David Beyth.

The Commercialization Center for Innovative Technologies

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Aestus Therapeutics Inc. announced on November 3, 2010, that it has been awarded a $244,000 grant from the U.S. Government's Qualifying Therapeutic Discovery Project ("QTDP") program. The grant, awarded for the project, “Treating neuropathic pain by means of novel mechanisms,” will help to fund clinical trials of Aestus’s novel, first-in-class treatment for chronic neuropathic pain.

Amicus Therapeutics, a graduate of the CCIT, announced on October 29, 2010, that they have formed a definitive agreement with GlaxoSmithKline PLC to develop and commercialize Amigal(TM) (migalastat HCl), currently in Phase 3 for the treatment of Fabry disease, a rare inherited disorder. Under the terms of the agreement, GSK will receive an exclusive worldwide license to develop, manufacture and commercialize migalastat HCl. Additionally, as part of the agreement GSK and Amicus also intend to advance clinical studies exploring the co-administration of migalastat HCl with enzyme replacement therapy (ERT) for the treatment of Fabry disease.

Chromocell Corporation, a company focused on using proprietary technologies to discover and develop novel flavor ingredients for the food, beverage, and ingredient supply industries announced on December 10, 2010 that they are collaborating on flavor innovation research with The Coca-Cola Company, the world’s largest beverage company. This partnership agreement includes the discovery and development of sweetness enhancers, natural sweeteners and other flavor ingredients.

Four CCIT tenants and two graduate tenants received grants as part of $52 million in federal funds received by New Jersey through the Qualifying Therapeutic Discovery Project Grants. The tenants that received grants were: 3D Biotek LLC ($117,737), HMGene Inc. ($55,979), Orthobond Corporation ($286,536), and TAXIS Pharmaceuticals ($137.65). The graduate companies that received grants were Amicus Therapeutics Inc. ($69,034) and ProFACT Proteomics Inc. ($120,260).

Enterprise Development Center at NJIT

www.njit-edc.org

Healthy Functions LLC designs, builds, and markets an entirely new type of mechanical surface, in the form of bed mattresses and wheelchair cushions, to prevent and treat pressure ulcers (bedsores). Since the company was founded in 2002, they have: been awarded two U.S. patents, secured FDA and CMS (Medicare/Medicaid) authorizations to manufacture and market their devices, designed and built working prototypes to conduct ongoing trials for clinical and consumer feedback, identified and successfully tested the production pieces of their various component suppliers; developed a complete set of plans which can be sent to any number of suppliers for rapid ramp-up of production; successfully completed initial clinical trials; and begun extended clinical trials at a major New Jersey rehabilitation institute consortium, received two grants from the New Jersey Commission on Science and Technology, designed and established branding identity and website development, and identified initial customers within the state as first customers in much need of their product

Menssana Research Inc. has signed a contract for $4.2 million with The Biomedical Advanced Research and Development Authority (BARDA) in the US Department of Health and Human Services to develop a breath test for radiation exposure. If the contract is exercised with options, it could total $22.84 million. Menssana Research has developed a sensitive breathalyzer which can detect several hundred different chemical compounds in normal human breath. The breathalyzer is much more sensitive than those police use to measure blood alcohol concentrations, and is currently in studies to identify disease biomarkers in patients with lung cancer, breast cancer, and tuberculosis. A pilot study also identified biomarkers of radiation exposure in cancer patients receiving radiation therapy. This new breath test for biomarkers of radiation exposure will be evaluated in patients receiving radiation as part of their normal scheduled treatment. Five medical centers will participate in the study, including Christiana Health Care System in Delaware, MD; Anderson Medical Center in Orlando, Florida; New York University Langone Medical Center; Seattle Swedish Cancer Institute; and the Veterans Administration Medical center at the University of California Los Angeles (UCLA). In addition, the Applied Physics Laboratory at Johns Hopkins University will evaluate breath testing in animals, the LECO Corporation in St. Joseph, Michigan will provide advanced instruments to analyze the breath samples, and American Westech Inc, of Harrisburg, Pennsylvania will provide analytical and consultative services.

The project's long-term goal is to develop a point-of-care breathalyzer that could be used to rapidly screen large numbers of people for radiation exposure, and to determine the severity of the dose received in order to guide their medical care.

Next Specialty, a woman-owned life sciences company that is developing new plant-derived, healthy and environmentally friendly molecules for skin care, environmental remediation, treatment of diseases, and other commercial applications, received a $50,000 National Science Foundation Phase IB award in July, 2010. The award will help Dr. Namita Deo, who leads a group of scientists who founded Next Specialty in 2007, to conduct toxicity and stability testing. The recent award can be seen as significantly improving the prospects for a $500,000 Phase II award next year. Next Specialty had also received a $150,000 Phase I Award in June 2009. Dr. Deo had attended Small Business Innovation Research Program (SBIR) training seminars, through which she became eligible for cost-shared proposal preparation assistance. After receiving this training, she was able to revamp a proposal that had previously not been granted and was successful in winning the award.

Urovalve, a medical device company focused on creating superior products for urinary flow and control, reported on October 5, 2010, that early results are promising in a multisite clinical study of the Company’s Surinate® Bladder Management System. The Surinate® Bladder Management System is designed to improve the quality of life and health of men who suffer from acute or chronic urinary retention, an inability to empty the bladder.

Five technology-based high-technology ventures that have achieved success in the health care field with the assistance of NJIT’s Enterprise Development Center (EDC) are the recipients of more than a million dollars in funding awarded in 2009 and 2010 under the federal program “Qualifying Therapeutic Discovery Project Grants for the State of New Jersey.” Companies receiving the award, all based at EDC, were Edge Therapeutics Inc. (http://edgetherapeutics.com/), which transforms well-established off-patent drugs into targeted, locally delivered therapies that address medical conditions in the central nervous system; Healthy Functions LLC (www.healthyfunctions.com/), which develops state-of-the-art support surfaces to help prevent and treat pressure ulcers; HiLin Life Products Inc. (http://hilinlife.com/management.html), which offers products and services that improve women's reproductive health; Urovalve Inc. (www.urovalve.com/home.php), which designs, develops and commercializes superior medical devices that address serious problems with urinary flow and control; and Samos Pharmaceuticals LLC, an EDC graduate now headquartered in Kendall Park, that has developed a platform technology that allows for the oral or parenteral delivery of drugs over a several-day period, such as 7 days or 30 days, with the administration of a single pill or capsule.

Rutgers-Camden Business Incubator

mVisum Inc. has received a prestigious $721,000 grant from the U.S. Department of Veterans Affairs. mVisum develops a communications tool that allows medical professionals to securely receive, review, and respond to patient data recorded at the point of care. The information is transmitted via secure HIPAA-compliant internet servers to the required physicians’ handheld smartphone.

New Jersey Business Incubation Network

The New Jersey Business Incubation Network recently announced that it is a supporter of the Central Jersey Chapter of the National Association of Women Business Owners (NAWBO-CJ) 2011 S.E.E.D Business Plan Competition. The competition will be the highlight of the Annual Women’s Business Conference & S.E.E.D. Competition, to be held on April 18 at The Hyatt Regency Hotel, 2 Albany Street, New Brunswick, NJ. S.E.E.D. stands for Supporting Emerging Entrepreneurs’ Development and is a way for the established businesses in the organization to help new businesses grow quickly. The Annual Business Conference and S.E.E.D. Competition was created by NAWBO-CJ to encourage the formation of strong businesses, share the communal knowledge of experienced entrepreneurs, and support women in the realization of their entrepreneurial dream. The program encourages entries from any business that is at least 50 percent woman-owned, no more than two years old, and demonstrates potential. Ten finalists will be selected to present their business plan to an audience of their peers. In April, 2010, three winners received prize packages valued at $15,000 to help them succeed in business. Submissions for this year are due by Friday, February 25, 2011. To receive an application to enter, send an email to SEED@nawbocentraljersey.org. For additional event information visit www.nawbocentraljersey.org/seed.html.

The National Business Incubation Association (NBIA) is the world’s leading organization advancing business incubation and entrepreneurship. Each year, it provides thousands of professionals with information, education, advocacy and networking resources to bring excellence to the process of assisting early-stage companies. An elected, voting board of directors representing the world's leading incubators governs the association.

The New Jersey Business Incubation Network (NJBIN) is a collaborative state-wide community of business experts, resources and facilities dedicated to enhancing the commercial success of early-stage entrepreneurial companies, growing higher paying jobs in New Jersey and supporting the Economic Growth Strategy for the State.